Foundations Investment Advisors LLC Cuts Position in The Boeing Company (NYSE:BA)

Foundations Investment Advisors LLC lessened its stake in The Boeing Company (NYSE:BA) by 82.0% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,236 shares of the aircraft producer’s stock after selling 55,770 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Boeing were worth $1,860,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Hobbs Group Advisors LLC purchased a new position in Boeing during the 2nd quarter valued at about $34,000. McClarren Financial Advisors Inc. increased its holdings in Boeing by 451.4% during the 1st quarter. McClarren Financial Advisors Inc. now owns 193 shares of the aircraft producer’s stock valued at $37,000 after acquiring an additional 158 shares in the last quarter. Kiely Wealth Advisory Group Inc. purchased a new position in Boeing during the 2nd quarter valued at about $33,000. Harel Insurance Investments & Financial Services Ltd. increased its holdings in Boeing by 351.1% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 212 shares of the aircraft producer’s stock valued at $39,000 after acquiring an additional 165 shares in the last quarter. Finally, 1620 Investment Advisors Inc. purchased a new position in Boeing during the 2nd quarter valued at about $39,000. Hedge funds and other institutional investors own 64.82% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BA. Wells Fargo & Company dropped their target price on shares of Boeing from $110.00 to $109.00 and set an “underweight” rating for the company in a report on Monday, October 14th. JPMorgan Chase & Co. dropped their target price on shares of Boeing from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Monday, October 14th. Susquehanna dropped their target price on shares of Boeing from $230.00 to $210.00 and set a “positive” rating for the company in a report on Thursday, October 17th. The Goldman Sachs Group lowered their price target on shares of Boeing from $232.00 to $202.00 and set a “buy” rating for the company in a report on Tuesday, September 24th. Finally, Sanford C. Bernstein lowered their price target on shares of Boeing from $207.00 to $195.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $198.79.

Boeing Stock Down 1.8 %

Shares of BA stock opened at $157.06 on Thursday. The stock has a market cap of $96.42 billion, a price-to-earnings ratio of -44.24 and a beta of 1.57. The Boeing Company has a fifty-two week low of $146.02 and a fifty-two week high of $267.54. The firm’s 50 day moving average price is $160.61 and its two-hundred day moving average price is $172.01.

Boeing (NYSE:BA) last announced its quarterly earnings results on Wednesday, July 31st. The aircraft producer reported ($2.90) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.00) by ($1.90). The business had revenue of $16.87 billion for the quarter, compared to analysts’ expectations of $17.35 billion. The firm’s quarterly revenue was down 14.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.82) earnings per share. On average, equities analysts forecast that The Boeing Company will post -5.35 EPS for the current fiscal year.

Boeing Profile

The Boeing Company, together with its subsidiaries, designs, develops, manufactures, sells, services, and supports commercial jetliners, military aircraft, satellites, missile defense, human space flight and launch systems, and services worldwide. The company operates through Commercial Airplanes; Defense, Space & Security; and Global Services segments.